Had a PCP or HP
contract between
2007 and 2021?

You might have been given the wrong finance deal and be eligible for significant compensation.

You might have been given the wrong finance deal and be eligible for significant compensation.

You might have been given the wrong finance deal and be eligible for significant compensation.

Had a PCP or HP contract between 2007 and 2021?

You might have been given the wrong finance
deal and be eligible for significant compensation.

You might have been given the wrong finance deal and be eligible for significant compensation.

You might have been given the wrong finance deal and be eligible for significant compensation.

What is My Finance Claim?

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A recent investigation by the Financial Conduct Authority (FCA) into finance agreements found extensive evidence of mis-selling of all types of UK car finance agreements.

The FCA found that some dealerships mis-sold finance agreements and have been overcharging them by adjusting interest rates to unlawfully increase their personal commission payments.

My Finance Claim and Pogust Goodhead have been investigating cases and have found that anyone who entered into a personal contract purchase (PCP) or hire purchase (HP) agreement could be eligible to claim significant compensation.  

If you were not informed thoroughly about a PCP or HP agreement and the costs involved throughout the contract, you could be eligible to join the finance claim. 

The experts at My Finance Claim believe customers of PCP and HP contracts could have been charged thousands more than they should have been, and we are aiming to claim back what you are owed. Compensation amounts will vary, determined by, but not limited to:

  • The size of the loan
  • Time of signing up
  • Length of agreement
  • The interest rate offered. 

Some people were hit by high interest or additional charges and therefore had to take out another loan to help finance the agreement. You can check your eligibility in seconds with My Finance Claim, and we could help you claim significant compensation.

Who can join the action?

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Our legal experts believe that anyone who purchased a PCP or HP agreement between 2007 and 2021 could be eligible to claim.  

Those who are eligible may have been affected by: 

  • Not being informed of, or not having clarity surrounding, the commission made by the dealership of the PCP or HP contract they signed  
  • Having little clarity about the additional costs incurred. This may include hidden extras, charges for damages, and/or additional miles 
  • Using dealerships that carried inadequate credit check assessments. This could mean your monthly payments were unrealistic 
  • Signing up for a contract that charged unreasonably high interest rates 
  • Purchasing unsatisfactory vehicles because of finance deals being advocated for. 

Many people may have been mis-sold car finance contracts or received poor or negligent advice in relation to their vehicle finance.   

If you feel like you were put under pressure to opt into a finance agreement that you didn’t feel was right for you but were told it was the best deal, or if you think you match any of the eligibility criteria outlined above, you may be eligible for significant compensation.

FAQs

A recent Financial Conduct Authority (FCA) investigation into finance agreements, the FCA discovered extensive evidence of mis-selling of all types of UK car finance agreements. 

The FCA found that some dealerships failed to adequately present all finance options available to customers, failed to perform affordability/credit checks, and have been overcharging their customers by adjusting the interest rates, meaning larger commission payments would have been made to the dealership by the finance provider. 

If you previously financed your vehicle and you believe you have been mis-sold an agreement for the non-disclosure of commissions received by the dealership, or you were inadequately informed of hidden costs and interest rates, you could be eligible to claim compensation.

To be eligible, your finance agreement must have been initiated between April 2007 and January 2021.

Follow these easy steps to sign up and check your eligibility:   

  1. Input your basic information into the short signup form at the top of this page. 
  2. Share your basic details with us. 
  3. Fill in our questionnaire, which will be sent to you via email once you complete the initial signup. 

Once we have all the relevant information, we will be able to confirm your eligibility and progress your claim. We’ll keep you informed as the case progresses.   

The duration of a claim can vary based on the specifics of each case and the complexities involved.  

Generally, simpler cases can be resolved within a few months, while more complex ones might take a year or more. We are committed to handling your claim as efficiently as possible, ensuring that every detail is thoroughly examined to maximise your potential compensation. Rest assured, we will keep you updated throughout the process. 

Yes! You are eligible to sign up for every vehicle you leased through a finance agreement within the time period. Please be aware that if you sign up for multiple claims, then you will receive multiple communications from us. All emails will contain your unique reference number, so please check each correspondence carefully before submitting any information.  

My Finance Claim operates on a No-win-No-fee basis. This means it costs you nothing upfront to join. If your claim is successful, we’ll take a pre-agreed percentage as our fee. If we do not win your claim, you won’t owe us a penny.  

Our primary goal is to ensure you are compensated for any hidden costs and harmful commission practices. 

If you are able to provide us with any documents that may remain in your possession, this will help us to evidence your claim. However, if you are not able to provide all the information/documents requested, we should still be able to proceed with your claim. 

We cannot say with certainty how much compensation will be awarded to each claimant. It depends on a number of factors to be determined over the course of the claim this includes but is not limited to; the interest rates that were charged, the amount of finance that was taken out, the length of the finance agreement, and how long ago the finance agreement was signed. 

We believe that you could be entitled to up to £4,000 in compensation for each finance agreement that you have previously opted into. 

We are immensely proud that Pogust Goodhead has been recognised with the ‘Boutique Litigation Firm of the Year 2023‘ award from the prestigious The Lawyer Award. This award is a testament to our unwavering commitment to excellence, our innovative approach to litigation, and the trust our clients place in us every day. 

Pogust Goodhead is a law firm regulated by the stringent standards of the Solicitors Regulation Authority (SRA) that ensures we uphold the highest levels of confidentiality, client care, and professional ethics. This differs from claims management companies that typically take on these types of claims. We can directly take your case to any court in the UK. while a claims management company would have to hand it off to someone else. 

We take pride in being pioneers of individual claims, continually pushing boundaries and devising innovative solutions to intricate legal challenges. Our dedication to excellence ensures that we consistently go above and beyond for our clients.